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Bitcoin mining and blockchain company Blockcap has announced that it mined a total of 544 bitcoin during the first quarter of this year.
Headquartered in Austin, Texas, Blockcap operates one of the world’s largest bitcoin mining operations, accounting for 0.7 percent of all the bitcoin network transactions. Since its founding last year, Blockcap has mined more than 1,600 bitcoin. With a fleet that now numbers approximately 12,176 fully deployed and operational machines, the company currently mines more than six bitcoin per day. Moreover, the company expects to have 43,000 total mining machines fully deployed and operating next year.
According to Blockcap executive chairman and founder Darin Feinstein, the continued growth is a testament to the company’s commitment to turning the US into a major global hub for blockchain and bitcoin-mining technology. During the first three months of 2021, he noted that Blockcap mined more bitcoin than several major North American-based companies. This includes Riot Blockchain, a publicly traded company that mined 491 Bitcoin during the first quarter of the year, as well as 165 bitcoin mined in Q3 of last year by Hive Blockchain.
“Blockcap has an aggressive growth strategy that is designed to create more jobs in the blockchain industry not just in the United States but also in our home state of Texas and our hometown of Austin,” Feinstein said. “We’re proud to be competing in this industry with a number of other high-quality firms, and we believe there is ample room for all of us to expand together and in turn provide broader, sustained economic growth at the local, state and national levels.”
In addition to utilizing blockchain technology for creating jobs in the United States, Feinstein expressed excitement about the industry’s positive potential impact not only for everyday Americans but also people all around the world.
“Currently there are roughly 60 million Americans who don’t have access to bank accounts and roughly 1.7 billion people globally who are also unbanked. And we at Blockap strongly believe that the blockchain industry as a whole will provide these unbanked people with the critical technology necessary for accessing the financial system,” Feinstein said.